MONEY: A Relentless Breeze

For sheer stagecraft. Treasury Secretary John
Connally's stopover in Japan last week rivaled a Kabuki drama. Two
weeks before his arrival, rumors began emanating from the U.S. and
Japan: in exchange for lifting the American import surcharge, Connally
would demand that Japan revalue the yen upward by 15%, reduce the
number of color television sets, automobiles and other big-selling
items it ships to the U.S., pay part of the cost of keeping U.S. forces
in Japan and drop trade barriers against U.S. farm goods. The Tokyo
press started referring to the Secretary as "Typhoon Connally."